X
X
Tired?
Unfocused?
Off your game?

Read our free Dr K report on how to optimize your mind and body so you can boost your focus when trading the markets.
YES, SEND ME THE REPORT !
NO, I'M NOT INTERESTED
Your email will always remain private.

Market Lab Report - Premarket Pulse for Friday, January 5, 2018

The jobs number came out this morning and the BLS reported  148,000  new jobs created in December vs. expectations of 188,000. This has lit up the futures as bad news is perceived as good news since it keeps the QE spigot from being shut tight.

On the short side of the market, we're still negative on Tesla (TSLA), which reported putrid sales and delivery numbers Wednesday after the close. The stock rallied off its intraday lows after undercutting the lows of the prior week, which looks logical, but ran into resistance at the 50-dma. We would be inclined to test this as a short here, using the 50-dma as a tight upside stop.

Bitcoin Investment Trust (GBTC) looked yesterday like it was setting up here along the 10-dma and 20-dema as volume dries up sharply. Is Bitcoin mania revving up again??? Note the U&R set-up eight days ago on the chart as GBTC undercut prior lows in the pattern and bounced off the 50-dma. Bitcoin futures are up about 1,000 this morning.


Focus List Notes:
Caterpillar (CAT) rebounded smartly off its 10-dma and posted a new all-time closing high. This was constructive as it holds up very tightly without giving up ground beyond the 10-dma. That is the market of a leader.
Facebook (FB) ran out of gas on a breakout attempt yesterday. The "meaty" part of the move occurred on the first two days of the year, and now the breakout becomes tentative. 
Like what you read?
Let us help you make sense of these markets by signing up for our free Market Lab Reports:
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2018 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
FOR OUR FREE MARKET LAB REPORT :
Copyright ©2018 MoKa Investors, LLC DBA Virtue of Selfish Investing.
All Rights Reserved.
privacy policy